“Due to the global financial turmoil to which we see no end in sight, one could go so far as to suggest that all world markets should close in the not too distant future for at least one week. This will enable all firms to come forward, lay bare all their exposure, write off credit default swap contracts and write down or write off the remaining subprime and toxic mortgages. The markets could then recommence again with a clean and healthy slate. - Tuesday, November 11, 2008”
Paul Ramscar
“I would go as far as to say that we could end up with three main investment banks within 18 months. Those being JP Morgan Chase, Morgan Stanley & Goldman Sachs. Lehmans gone, UBS all but gone, Merrill selling major assets and almost gone and Citigroup disbanded and not what it is now. Overall the banks should revert back to core fee paying services such as M&A. We’ll see a very different kind of Wall St in less than two years. – Wednesday, 26th March 2008”